New Delhi: Benchmark equity indices Sensex and Nifty rebounded in early trade on Wednesday, snapping two sessions of losses as investors bought blue-chip IT stocks amid some relief on the crude oil front.
The 30-share BSE Sensex rose 190 points to 72,733.04 in early trade, while the NSE Nifty gained 22 points to 22,735.20.
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Among Sensex stocks, Tata Consultancy Services, Tech Mahindra, HCL Tech, InterGlobe Aviation, ICICI Bank and Trent were among the major gainers.
Adani Ports, HDFC Bank, Sun Pharma and NTPC were among the laggards.
Brent crude, the global oil benchmark, traded 0.68 percent higher at USD 103.3 per barrel.
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"Indian equities are likely to find some relief at the open as a sharp pullback in crude oil prices eases one of the key pressures that has weighed on domestic markets in recent sessions," Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm, said.
The moderation in oil prices, however, comes amid continued uncertainty over the US-Iran conflict and the outlook for regional energy supplies, he added.
Asian markets were mixed. South Korea's KOSPI and Hong Kong's Hang Seng traded lower, while Japan's Nikkei 225 and China's Shanghai Composite were marginally higher.
US markets closed lower on Tuesday.
Foreign Institutional Investors (FIIs) remained heavy sellers, offloading equities worth Rs 9,980.22 crore on Tuesday, according to exchange data.
In the previous session, the Sensex fell 242.65 points, or 0.33 percent, to close at 72,529.07. The Nifty declined 64.05 points, or 0.28 percent, to settle at 22,716.20.
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